Pitney Bowes Board Declares Common, Preference and Preferred Stock Dividends

STAMFORD, Conn., February 06, 2007 - The Board of Directors of Pitney Bowes Inc. (NYSE: PBI) declared a quarterly cash dividend on the companys common stock of 33 cents per share, payable March 12, 2007, to stockholders of record on February 16, 2007; a quarterly cash dividend of 53 cents per share on the companys $2.12 convertible preference stock, payable April 1, 2007, to stockholders of record March 15, 2007, and a quarterly cash dividend of 50 cents per share on the companys 4 percent convertible cumulative preferred stock, payable May 1, 2007, to stockholders of record April 14, 2007.

Pitney Bowes provides the worlds most comprehensive suite of mailstream software, hardware, services and solutions to help companies manage their flow of mail, documents and packages to improve communication. Pitney Bowes, with $5.7 billion in annual revenue, takes an all-inclusive view of its customers operations, helping organizations of all sizes enjoy the competitive advantage that comes from an optimized mailstream. The companys 86 years of technological leadership have produced many major mailstream innovations, and it is consistently on the Intellectual Property Owners Associations list of top U.S. patent holders. With approximately 35,000 employees worldwide, Pitney Bowes serves more than 2 million businesses through direct and dealer operations. More information about the company can be found at www.pb.com.